China Sunergy Q4 Loss Deepens
China Sunergy results for the company's fiscal Q4 and 2012 have been released. For the quarter, total sales were $54.4 million, less than half the $110.8 million the firm posted in the same period the previous year. Net loss, meanwhile, was steeper at $70.5 million ($5.27 per diluted American Depositary Share), compared to Q4 2011's red figure of $49.6 million ($3.71).
For the full year, sales totaled $292.7 million, far less than the 2011 figure of $566.3 million. Net loss deepened to $133.6 million ($9.99 per diluted ADS), from 2011's $94.3 million ($7.05).
China Sunergy also proffered guidance for future deliveries. It anticipates total shipments of 100MW-110MW in Q1 2013, with gross margin matching that of Q4 2012. For the full fiscal year, the former is expected to come in at 550MW-600MW.
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